Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Meritage Group LP

Meritage Group LP lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 755,224 shares of the semiconductor company’s stock after acquiring an additional 1,599 shares during the period. Analog Devices accounts for about 4.1% of Meritage Group LP’s investment portfolio, making the stock its 11th largest holding. Meritage Group LP’s holdings in Analog Devices were worth $173,830,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ADI. Raymond James & Associates grew its stake in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after buying an additional 1,422,054 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Analog Devices by 23,792.4% in the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $218.20 on Monday. Analog Devices, Inc. has a twelve month low of $180.37 and a twelve month high of $244.14. The firm has a market cap of $108.29 billion, a price-to-earnings ratio of 66.32, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company has a 50-day moving average of $223.17 and a 200-day moving average of $225.99. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm earned $2.01 EPS. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This represents a 27.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $22,596,300 over the last 90 days. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADI shares. Truist Financial decreased their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.